Egypt, Jordan ink deal to promote SMES

Egypt and the Jordan Tuesday signed a memorandum of understanding (MoU) to support the sector of micro, small and medium-sized enterprises (MSMEs) in the two countries, Arab Finance reports.
The agreement signed between Egypt’s Minister of Trade and Industry Nevin Gamea and her Jordanian counterpart Yousef Al Shamali aims at developing MSMEs, through exchanging experience and holding training courses and exhibitions, in addition to exploring opportunities for achieving trade integration between Cairo and Amman.
The MoU also seeks to boost economic and investment cooperation with Jordan, by increasing bilateral trade in small business products.
Additional both countries under the agreement will work to cement cooperation on banking and non-banking financing products and promoting integration of projects, in a way that enables young entrepreneurs to export their products by raising their competitiveness in local and regional markets.
The both countries have seen trade value between the two grow by 26.2% in the first half (H1) of 2021, registering $430.8 million, against $341.3 million recorded in H1 2020, recent figures by the Central Agency for Public Mobilization and Statistics (CAPMAS) showed, Arab Finance notes. Meanwhile, Egypt’s exports to Jordan also jumped 26.9% in H1 2021, registering $348 million when compared to $274.3 million in the corresponding period of 2020.

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